Crexendo (NASDAQ:CXDO) COO Sells $550,000.00 in Stock

Crexendo Inc. (NASDAQ:CXDO) COO Douglas Walter Gaylor sold 55,000 shares of Crexendo stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $10.00, for a total transaction of $550,000.00. Following the completion of the sale, the chief operating officer directly owned 227,816 shares in the company, valued at approximately $2,278,160. This represents a 19.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Douglas Walter Gaylor also recently made the following trade(s):

• On Tuesday, June 2nd, Douglas Walter Gaylor sold 5,000 shares of Crexendo stock. The shares were sold at an average price of $10.35, for a total transaction of $51,750.00.
• On Monday, June 1st, Douglas Walter Gaylor sold 20,000 shares of Crexendo stock. The stock was sold at an average price of $9.99, for a total transaction of $199,800.00.
• On Thursday, May 14th, Douglas Walter Gaylor sold 10,000 shares of Crexendo stock. The stock was sold at an average price of $9.52, for a total transaction of $95,200.00.
• On Wednesday, May 6th, Douglas Walter Gaylor sold 20,000 shares of Crexendo stock. The stock was sold at an average price of $9.37, for a total transaction of $187,400.00.
• On Tuesday, May 5th, Douglas Walter Gaylor sold 10,000 shares of Crexendo stock. The shares were sold at an average price of $8.66, for a total value of $86,600.00.

Crexendo Trading Down 2.7%

Shares of NASDAQ CXDO opened at $8.93 on Friday. The stock has a fifty day simple moving average of $7.86 and a two-hundred day simple moving average of $7.05. Crexendo Inc. has a 1-year low of $5.13 and a 1-year high of $11.23. The firm has a market cap of $289.51 million, a price-to-earnings ratio of 59.53 and a beta of 1.08.

Crexendo (NASDAQ:CXDO) last issued its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02. Crexendo had a return on equity of 13.84% and a net margin of 6.15%.The firm had revenue of $20.71 million for the quarter, compared to analyst estimates of $19.63 million. Analysts forecast that Crexendo Inc. will post 0.36 EPS for the current year.

Institutional Trading of Crexendo

A number of hedge funds and other institutional investors have recently made changes to their positions in CXDO. BNP Paribas Financial Markets boosted its stake in Crexendo by 172.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,394 shares of the company’s stock worth $29,000 after purchasing an additional 2,782 shares during the period. Strive Financial Group LLC bought a new stake in shares of Crexendo during the fourth quarter valued at about $31,000. Bank of America Corp DE increased its position in shares of Crexendo by 71.7% during the fourth quarter. Bank of America Corp DE now owns 6,174 shares of the company’s stock valued at $32,000 after buying an additional 2,578 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of Crexendo in the second quarter worth about $41,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Crexendo in the second quarter valued at approximately $48,000. 9.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on CXDO shares. Weiss Ratings raised shares of Crexendo from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Needham & Company LLC lifted their target price on shares of Crexendo from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Lake Street Capital reissued a “buy” rating and issued a $11.00 price target on shares of Crexendo in a research report on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $10.40.

About Crexendo

Crexendo, Inc (NASDAQ: CXDO) is a provider of cloud-based communications and collaboration solutions tailored to businesses of varying sizes. The company’s flagship offering, CXsuite, integrates enterprise-grade voice, video conferencing, instant messaging, presence, and contact center functionality into a single platform delivered over the internet. By leveraging hosted infrastructure and a subscription-based model, Crexendo aims to reduce on-premises hardware costs and simplify management for IT teams and resellers.

Crexendo’s product portfolio includes a multi-tenant cloud PBX, SIP trunking, session border controllers and an application programming interface (API) suite that allows partners and customers to embed real-time communications into custom workflows.